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Companies / Energy / Kodiak Gas Services, Inc.
KGS

Kodiak Gas Services, Inc.

EnergyElectric, Gas & Water
Ticker KGSTHE WOODLANDS, TXFiscal year ends DecemberBook value per share $23.44Diluted shares 92.2M

Kodiak Gas Services, Inc. (NYSE: KGS) is a leading provider and operator of large horsepower contract compression infrastructure supporting the critical movement and processing of natural gas across key production regions in the United States. The company operates through two reportable segments: Contract Services and… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.31BFY2025
+12.8% year over year
Last 12 mo $1.39B
25.99%FY2025
+4.5 percentage points
Last 12 mo 27.44%
$81.59MFY2025
+62.1% year over year
Last 12 mo $80.57M
7.08%FY2025
+2.9 percentage points
Last 12 mo 3.72%
Cash & financing
$599.74MFY2025
+82.9% year over year
Last 12 mo $478.89M
$284.27MFY2025
+3269.5% year over year
Last 12 mo $5.01M
2.13FY2025
Was 1.90× a year earlier
Last 12 mo 1.28
88.5MFY2025
+3.9% year over year
Last 12 mo 92.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Kodiak Gas Services, Inc. does

In the company’s own words

Kodiak Gas Services, Inc. (NYSE: KGS) is a leading provider and operator of large horsepower contract compression infrastructure supporting the critical movement and processing of natural gas across key production regions in the United States. The company operates through two reportable segments: Contract Services and Other Services.

Contract Services represents the core business, consisting of operating company-owned and customer-owned compression and gas treating and cooling infrastructure that enables the production, gathering, processing and transportation of natural gas and oil. Other Services encompasses a broad range of ancillary offerings including station construction, customer-owned compression maintenance and overhaul, freight and crane charges, parts sales and other time and material-based services that are often cross-sold with Contract Services.

As of December 31, 2025, Kodiak operated a fleet of approximately 4.5 million horsepower across 4,736 compression units, with approximately 80 percent categorized as large horsepower (greater than 1,000 horsepower per unit). The company strategically concentrates its operations in leading onshore U.S. regions, with approximately 82.8 percent of compression assets deployed in the Permian Basin and Eagle Ford Shale, two of the largest and lowest-cost unconventional oil and natural gas resources in the country. Additional assets operate in the Powder River Basin, Mid-Continent Region, DJ Basin, Appalachian Basin, Barnett Shale, East Texas Region and Black Warrior Basin.

Kodiak maintains long-term commercial relationships with leading upstream and midstream customers, with its four largest customers representing approximately 32 percent of total revenues. Each of these major customers is an S&P 500 constituent with investment-grade ratings. The company's business model emphasizes customer-centric service, operational excellence, mechanical availability guarantees, and disciplined capital deployment. Contracts typically feature primary terms of one to seven years with fixed monthly fees and annual inflation adjustments, providing stable recurring cash flow. The company was formed in 2011 and completed its initial public offering on July 3, 2023. More information is available at www.kodiakgas.com.

Company details
Sector
Energy
Industry (SIC)
Electric, Gas & Water
Headquarters
THE WOODLANDS, TX
Fiscal year end
December
CIK
1767042
SIC
4922

Financial performance, year by year

Fiscal 2023–2025 · USD
$-139.25M$278.50M$696.25M$1.11B$1.53B202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Kodiak Gas Services, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

429
funds hold it
1 of 35
superinvestors hold it
$4.04B
held by funds, at market
55.7%
of shares held by funds
3
bond issues held by funds

Superinvestors in Kodiak Gas Services, Inc. · what they did last quarter

Stephen MandelNEW
Lone Pine Capital
0.4%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Kodiak Gas Services, Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.40%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.23%of fund net assets
Invesco SteelPath MLP Income Fund
MLPRX · AIM Investment Funds (Invesco Investment Funds)
3.55%of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
0.56%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Kodiak Gas Services, Inc.’s bonds, as funds hold them

Funds report holding 3 issues of Kodiak Gas Services, Inc.’s debt, $777.56M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 6.29%, maturing 2031 to 2035.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Kodiak Gas Services, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Kodiak Gas Services, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Kodiak Gas Services, Inc.'s last four quarterly filings that the numbers alone won't show?”
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